Honolulu Federal Credit Union

Honolulu Federal Credit Union was chartered on December 3, 1936 as a financial cooperative for U.S. Federal Employees employed in Honolulu. It was the fifth credit union formed in what was then the Territory of Hawaii. Today, HOCU has more than 15,000 members with more than $240 million in assets, served by 40 employees at four branches. The credit union was chartered as a not-for-profit cooperative, owned by and operated for the benefit of its members. While the credit union's are similar to that of a bank (both make loans and accept deposits), it is why and how we do it that make us different from banks. Credit unions are owned by their members, and any surplus above expenses belongs to its members. Credit unions are run by unpaid volunteers who serve on the Board of Directors and/or various committees. The board, in turn, hires a staff to handle the day-to-day operations. Credit unions do not have stockholders and are democratically run, meaning each member has only one vote, regardless of how much savings they have. HOCU's mission statement reflects this dedication: "We are committed to serve our members by providing quality services, products and education to help achieve their financial success." We also adopted "For a Brighter Future" as our tagline. It is important to us in finding ways to assist our members in reaching their financial goals, to be assured of that "brighter future".